COMPLIANCES
If you’re self-employed or a freelancer working through a limited company or partnership, you may face issues under the complex rules of IR35 and s660A by HMRC – relieve the stress and let us talk you through it!
Our aim is to provide support and advice on how to manage your potential risk before it happens to you or to your business and to help you recover from any issues experienced with HMRC.
OFF-PAYROLL
At Autumn Statement 2016, taking take effect from 6th April 2017, the chancellor confirmed that, in the public sector only, theIR35 status will be determined by the client, not by the contractor.
If your client decides that IR35 does apply, then you will be taxed at source, through the Real Time Information (RTI) system, exactly as if it were an employee.
Although contractors impacted by this measure may have to pay tax like an employee, their employment status will not change, so they will not receive the rights and benefits that go with employment such as pension contributions, holiday pay and unfair dismissal rights.
This law has damaged contracting in the public sectors.
We provide our expert advice for contractors working in public sector, so please get in touch to explore our services.
HOW DOES IT WORK (WHAT’S INCLUDED)
- Introduction to IR35
- Guide to IR35 accountancy and taxation
Unfortunately, the IR35 is not at all tax efficient and attracts a lot of tax cost. If IR35 applies to your contract and you operate via a limited company then as the director of your company or member of your partnership, you must:
- calculate the deemed employment payment and pay any tax and National Insurance contributions due, at the end of the tax year
- account for those payments correctly
- reassess the IR35 position if your contracts vary or change
- take into account the deemed employment payment when paying Corporation Tax, making distributions or operating the CIS
You will also need to report information about IR35 on your Self-Assessment tax return.
We can provide you in-depth knowledge of IR35 to help you understand the taxes.
BENEFITS OF OUR COMPANY FORMATION SERVICES
We are your AIMS Business Partners, we assist you at everysingle of contracting and provide our full support throughout the process;
Benefits of using AIMS Business Partners are;
- Specialist advice on contractors working in public sectors
- Optimal salary structure
- Optimal profit extraction structure
- Free online portal
- Advice on company’s assets and benefits (cars, insurances and subscriptions)
- In-depthexpense/allowance system
- Expert guidance throughout the process
- Liaising with your Agency on initial contract (IR35 manual review)
- Extensive mid-term and long-term planning
- Business and tax advice
- Work with our specialist Chartered Accountants
- Complex tax issues expertise
- Efficient and in-depth examination of your accounts
WHAT NEXT
We have made it so simple
Initial Meeting (Call us, Meet us, E-mail us)
With our initial discussion, we assess your requirements and have a good idea of your Tax, Compliance & Payroll needs, we also provide you with our advice or a second thought on your ideas.
We can talk through all the available options suiting your business needs
Available Options
Once you are happy with the options and decided what best for you, for example, our business growth package, management reporting, credit control services. We agree on the frequency of reporting and deliverables. And then get sthe system set-up and ready for you.
On Hand Support
That’s all about it and you are now up and running. We spend time with you to make sure that we make it as simple as possible, we do not deviate from your existing system and apply our change management strategies to ensure everyone in your team is on board.
This starts the era of our ongoing support and business growth research, therefore, you get the best from our services.
Timeframe
The whole process should not take longer than a week, in some cases, we are happy to commence work from the very next day!
Switching to us:
We can understand the pain of switching a supplier, however, it is not at all like the switching a broadband supplier. In case have an existing accountant, our support process, will make it seamless. You offer a big thank to your previous accountants and we collect all the information on your behalf.
Get in touch:
Contact either Awais – awais@accountancymanagers.co.uk or Tania – tania@accountancymanagers.co.uk and we will arrange to chat to you first, send you more information on our services and set up an introductory free consultation.
During this consultation, we will apply our work principles, identify structure, growth opportunities, provide
Our guarantees:
Only at the end of this consultation and only if we BOTH see the value in working together for your contracting business, will we make a decision.
We guarantee;
- We’ll complete your work within the set deadlines as agreed in our meeting
- We’ll save your taxes
- Improve your wealth
For further details, please contact us.